Growth at WRG
Twenty-six new credit union clients were added at Wescom Resources Group in 2010 as the CUSO said it recorded its best year since its 2002 creation.
The CUSO of $2.7 billion Wescom CU in Pasadena, Calif., said it saw nearly a 12% total revenue increase in the year past compared to the year before, to $9.21 million, and that total net income grew to $1.54 million, 44% more than 2009.
Highlights of the past year included signing 17 more users of its MemberEdge mobile banking solution, including a half dozen billion-dollar CUs, and two new users of its service bureau for hosting Symitar Episys core processing.
WRG said it also released SOA Web Services options for many of its products, providing better third-party integration, and grew ATM deposit balancing by 14% with the addition of two new credit unions. The CUSO's programming and consulting team, meanwhile, provided host system merger integration services for five credit unions.
WRG now serves more than 225 credit unions, it said. Mobile adoption grew fast after it launched in April, the CUSO said, and enhancements are continuing in that platform along with other projects seeing increased research and development investment to keep up with the changing electronic banking world, the CUSO said.
"The Web as we know it is being transformed," said John Best, WRG's vice president and chief technology officer. "The traditional Web paradigm will begin being replaced by integrated applications. Apple, Google and Microsoft are already there and we as credit unions need to be there as well."